Jonathan Wong
The Latest
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Costco Implements Membership Scanners to Combat Card Sharing
Costco Wholesale is introducing a new system to ensure only valid members gain entry to its warehouses. Traditionally, customers have shown their membership cards to an employee at the entrance, but Costco has observed a growing trend of non-members using someone else's card to shop. To address this issue, the retail giant will be rolling out membership scanning devices at the entrance of its stores in the coming months. 
Costco Wholesale is introducing a new system to ensure only valid members gain entry to its warehouses. Traditionally, customers have shown their membership cards to an employee at the entrance, but Costco has observed a growing trend of non-members using someone else's card to shop. To address this issue, the retail giant will be rolling out membership scanning devices at the entrance of its stores in the coming months. -
Eli Lilly's Earnings Surge as Mounjaro and Zepbound Sales Soar
Eli Lilly & Co. has significantly exceeded market expectations with its second-quarter earnings, driven by the soaring demand for its diabetes drug Mounjaro and weight loss injection Zepbound. The pharmaceutical giant reported revenues of $11.3 billion, marking a 36% increase from the same period last year, far surpassing the anticipated $9.92 billion. Consequently, Eli Lilly has raised its full-year revenue outlook by $3 billion, now expecting between $45.4 billion and $46.6 billion. 
Eli Lilly & Co. has significantly exceeded market expectations with its second-quarter earnings, driven by the soaring demand for its diabetes drug Mounjaro and weight loss injection Zepbound. The pharmaceutical giant reported revenues of $11.3 billion, marking a 36% increase from the same period last year, far surpassing the anticipated $9.92 billion. Consequently, Eli Lilly has raised its full-year revenue outlook by $3 billion, now expecting between $45.4 billion and $46.6 billion. -
Boeing's New CEO Ortberg Takes Helm Amid Mounting Challenges
Boeing's new CEO, Robert "Kelly" Ortberg, officially took the reins on Thursday, embarking on a mission to restore the reputation of the iconic U.S. aerospace manufacturer. With a track record of three decades in the industry and a reputation for being a good listener, Ortberg steps into his role at a time when Boeing faces significant operational and financial challenges. 
Boeing's new CEO, Robert "Kelly" Ortberg, officially took the reins on Thursday, embarking on a mission to restore the reputation of the iconic U.S. aerospace manufacturer. With a track record of three decades in the industry and a reputation for being a good listener, Ortberg steps into his role at a time when Boeing faces significant operational and financial challenges. -
New York Times Surpasses Q2 Estimates with 300,000 New Digital Subscribers
The New York Times Company has reported a robust second-quarter performance, surpassing analysts' expectations and highlighting its continued growth in digital subscriptions. The newspaper publisher announced earnings of 45 cents per share, exceeding Wall Street's forecast of 41 cents. Revenue reached $625.1 million, slightly above the anticipated $624.6 million. This performance underscores the Times' successful diversification strategy amidst a challenging landscape for the media industry, characterized by layoffs, the rise of artificial intelligence, and declining readership. 
The New York Times Company has reported a robust second-quarter performance, surpassing analysts' expectations and highlighting its continued growth in digital subscriptions. The newspaper publisher announced earnings of 45 cents per share, exceeding Wall Street's forecast of 41 cents. Revenue reached $625.1 million, slightly above the anticipated $624.6 million. This performance underscores the Times' successful diversification strategy amidst a challenging landscape for the media industry, characterized by layoffs, the rise of artificial intelligence, and declining readership. -
McDonald's Taps into Nostalgia with New Collector's Meal: Exclusive Cup Designs Revealed
McDonald's is diving deep into nostalgia with its latest promotion, aiming to reignite the excitement of collectibles among its customers. The fast-food giant announced the introduction of the "Collector's Meal," which will come paired with a unique set of collectible cups designed to evoke "core memories" for fans. This limited-time offer will be available at participating McDonald's locations starting August 13. 
McDonald's is diving deep into nostalgia with its latest promotion, aiming to reignite the excitement of collectibles among its customers. The fast-food giant announced the introduction of the "Collector's Meal," which will come paired with a unique set of collectible cups designed to evoke "core memories" for fans. This limited-time offer will be available at participating McDonald's locations starting August 13. -
CVS Health Cuts Profit Outlook Amid Rising Medical Costs and Leadership Changes
CVS Health Corporation (CVS) has once again revised its profit outlook for 2024, marking the third consecutive quarter the healthcare giant has had to lower its forecast. The company attributed the latest downgrade to escalating medical costs, which have been squeezing its insurance business. In a related move, Aetna President Brian Kane, the top executive of the CVS-owned insurance unit, will leave the company immediately, with CEO Karen Lynch taking over his responsibilities. 
CVS Health Corporation (CVS) has once again revised its profit outlook for 2024, marking the third consecutive quarter the healthcare giant has had to lower its forecast. The company attributed the latest downgrade to escalating medical costs, which have been squeezing its insurance business. In a related move, Aetna President Brian Kane, the top executive of the CVS-owned insurance unit, will leave the company immediately, with CEO Karen Lynch taking over his responsibilities. -
Disney's Streaming Unit Turns First Profit Amid Park Division Slump
Disney (DIS) announced that its streaming division has turned a profit for the first time. However, this milestone was dampened by weaker performance in its parks division, attributed to a "moderation of consumer demand" towards the end of the quarter. 
Disney (DIS) announced that its streaming division has turned a profit for the first time. However, this milestone was dampened by weaker performance in its parks division, attributed to a "moderation of consumer demand" towards the end of the quarter. -
Airbnb Shares Plunge as Company Warns of Slowing U.S. Demand
Airbnb's shares fell sharply by 16.64% in after-hours trading on Tuesday, following the company's announcement of second-quarter earnings that missed analyst expectations and a warning of slowing demand from U.S. customers. 
Airbnb's shares fell sharply by 16.64% in after-hours trading on Tuesday, following the company's announcement of second-quarter earnings that missed analyst expectations and a warning of slowing demand from U.S. customers. -
Super Micro's 10-for-1 Stock Split Announcement Overshadowed by Earnings Miss, Stock Plunges 13%
Super Micro Computer, a prominent server manufacturer, experienced a significant drop in its stock price on Tuesday following the announcement of its fiscal fourth-quarter earnings, which fell short of Wall Street expectations. The company's shares plummeted 13% despite also revealing a 10-for-1 stock split, set to commence trading on a split-adjusted basis on October 1. 
Super Micro Computer, a prominent server manufacturer, experienced a significant drop in its stock price on Tuesday following the announcement of its fiscal fourth-quarter earnings, which fell short of Wall Street expectations. The company's shares plummeted 13% despite also revealing a 10-for-1 stock split, set to commence trading on a split-adjusted basis on October 1. -
Saudi Aramco Faces Profit Drop Amid Lower Crude Volumes, Yet Commits to Massive $31.1 Billion Dividend Payout
Saudi Aramco, the world's most profitable oil company and a cornerstone of Saudi Arabia's economy, reported a 3.4% decline in its second-quarter profits, primarily due to lower crude volumes and softer refining margins. Despite this dip, the company maintained its substantial dividend payouts, announcing $31.1 billion in dividends for the quarter, a move that highlights its commitment to shareholder returns amid fluctuating market conditions. 
Saudi Aramco, the world's most profitable oil company and a cornerstone of Saudi Arabia's economy, reported a 3.4% decline in its second-quarter profits, primarily due to lower crude volumes and softer refining margins. Despite this dip, the company maintained its substantial dividend payouts, announcing $31.1 billion in dividends for the quarter, a move that highlights its commitment to shareholder returns amid fluctuating market conditions.
